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EBay Will Buy StubHub for $310 Million

By Dealbook January 11, 2007 7:42 amJanuary 11, 2007 7:42 am

EBay said Wednesday that it had agreed to buy the online ticket reseller StubHub for $310 million to bolster its share in the multibillion-dollar market for secondary sales of seats to concerts and sporting events.

The acquisition of the closely held StubHub will give eBay a greater foothold in an industry that generates $10 billion in annual sales, according to StubHub’s Web site. The acquisition may also spur higher growth for the company’s auction operations, which are being outpaced by its online payment service, PayPal, and by advertising.

The Deal’s VC Ratings said the deal is a coup for Pequot Ventures, which invested between $10 million and $25 million in StubHub in late 2005.